The State Department said PDVSA [Venezuela State Oil] delivered at least two cargoes of reformate, a gasoline blending component, to Iran between December 2010 and March 2011 worth about $50 million.

In a news conference broadcast on all Venezuelan TV stations, Oil Minister Rafael Ramirez said PDVSA guaranteed oil shipments to its U.S. subsidiaries, but was studying the impact of the sanctions on other U.S. clients.

The other companies covered by the new U.S. sanctions are PCCI, the Royal Oyster Group and Speedy Ship of the United Arab Emirates, Tanker Pacific of Singapore, Ofer Brothers Group of Israel and Associated Shipbroking of Monaco.

Separately, the State Department announced sanctions on 16 companies and individuals — including three in China and a Venezuelan arms company — for banned nuclear and weapons proliferation activities, chiefly with Iran.

The U.S. move could put Chavez in a bind despite the temptation to impose retaliatory measures, according to Simon Wardell, director of oil markets at IHS Global Insight.

“Ultimately I don’t think Chavez will be able to do much about the sanctions. He might talk a lot and make a lot of noise but will continue to sell crude to the United States.”

Steinberg said the main objective of the sanctions was to encourage Tehran to engage in real negotiations with the major powers over its nuclear program, which western nations and Israel fear is aimed at building weapons. Iran denies this.

Comment: No one will stop the US taxpayer funded global starvation and war machine. It’s clear US elites will never stop on their own. The only way to stop them is to end the US, break it up into parts.